we like to see a month or two of increases when we’re talking about jobs, but how about six or seven? that’s the rosy picture seen across several sectors in accounting, according to the latest available data.
except at payroll agencies, where wage gains are dipping.
by beth bellor
let’s talk about earnings, because the latest national data shows some good news on that front. hourly earnings in the accounting profession have nudged above $39 for the first time, to $39.09, up 81 cents or 2.1% for the month and $2.48 or 6.8% for the year.
another new high came at cpa firms, where they topped $41 for the first time at $41.61, up $1.23 or 3% for the month and $3.70 or 9.8% for the year. staff at cpa firms followed the trend with $31.84, up 53 cents or 1.7% for the month and $2.02 or 6.8% for the year.
tough to find employees to fill accounting posts? someone is managing. overall employment in the accounting profession rose to 1,101,900 in may, up 15,600 or 1.4 percent for the month and 52,000 or 5 percent for the year.
there were bright spots in several sectors of the latest employment figures, but let’s get the ball rolling with the most gleaming: payroll services, which set a couple of new highs on the way to positive year-over-year marks in every measure but hours.
and by “positive,” we mean the likes of 16 and 17 percent.
the scramble for talent is global and it’s forcing fundamental changes in how accountants do business.
reports are coming into 卡塔尔世界杯常规比赛时间 from around the world and they are dismally similar:
tucson, ariz.:at r&a cpas, chief recruiter nancy allison says they’re turning to “hiring fully remote employees, making fully remote and hybrid work permanent for existing team members, and utilizing outsourced services for tax preparation assistance.”
marondera, zimbabwe:accountancy consultant billy ndlovu tells 卡塔尔世界杯常规比赛时间 they are turning away new clients even as they battle the covid upheavals that are “changing how we do things.”
dublin, ireland:anthony casey at noone casey is staying ahead of the curve by finding productivity gains in remote working and picking up new staffers with specialty skills.
cincinnatti:back in the u.s., rick kruse at kruse & crawford is turning to new technology even as they trim their headcount.
卡塔尔世界杯常规比赛时间 polling shows about 64 percent of firms are seeking to add additional staffers, even as 60 percent of firms are turning away new work due to the crippling shortage of new hands.
we here at 卡塔尔世界杯常规比赛时间 love to make valid comparisons. apples to apples, you might say. so we really, really wanted the irs to release 2021 data that would align with 2020’s july 15 individual income tax return filing deadline.
the agency received 148 million individual income tax returns, up 11.8 percent from the same period in 2020, when the endless season was 18 days longer. it processed 135.8 million returns, up 13.4 percent and setting the processing rate at 91.7 percent. read more →
and the good news in the last lap of tax season 2021 is that tax professionals were filing returns at more than three times the rate of do-it-yourselfers. it’s not enough to say that tax professionals have reversed years of declining market share, but in an otherwise horrible year for many, it might count as a small win.
the irs had received 126.8 million individual income tax returns, down 1.1 percent from the same period in 2020, and processed 116 million, up 0.2 percent, as of may 7, the latest data available. that pegged the agency’s processing rate at 91.5 percent.read more →
tax professionals are entering the final stretch of a second crisis-wracked busy season with only a precious few reporting better-than-year-ago metrics so far, according to the 20th annual 卡塔尔世界杯常规比赛时间 busy season tracking poll.
meanwhile, the spread between tax professionals’ gains and diyers’ losses increased from 9.1 percentage points in the last reporting period to 12.2 points in the lastest, according to data reported by internal revenue service for the week ending april 23, the latest available.
the agency had received 116.1 million individual income tax returns, down 4.7 percent from the same period in 2020 when tax season began 18 days earlier. it had processed 105.3 million returns, down 4.3 percent, pegging its processing rate at 90.7 percent.
some 49 percent are calling 2021 “worse” than 2020, with about 16 percent holding steady, and 36 percent reporting a “better” year, including 10 percent enjoying a “much better” season.
the pros pulled out of the red year-over-year and solidly hit the black – or green, according to our chart – by preparing 55.5 million electronic filings of individual income tax returns, 3.4 percent higher than the same week last year. factor in that 2021’s season started 18 days later, and there is some real reason to preen. read more →
for the period ending april 9, the latest data available, this was the week in both 2021 and 2020 that individual income tax returns surpassed 100 million. at 100.9 million, the figure was down 3 percent from last year, when filing had gone on for 18 days longer and taxpayers still had three more months to turn things in.
across the tax and accounting industry, almost all the jobs relinquished by men in the coronavirus layoffs have been regained by men. the jobs given up by women, on the other hand, are still largely vacant.
overall, the tax, accounting, tax prep, payroll, and bookkeeping sectors employed 1.02 million full-time equivalents in march 2020, before 70,000 layoffs hit in april. so far, the industry has re-filled all but 17,600 positions.
the internal revenue service had received 93.2 million individual income tax returns as of april 2, down 4.3 percent from the same period in 2020. in releasing the latest available data, the agency noted that the filing season began 18 days later this year, skewing comparisons. read more →
as in recent years, accountants are losing ground to diyers when it comes to individual income tax returns. the question is, do they care? or is this ground they’re all too ready to yield for more profitable pastures?